LTC–USD daily chart.

LTC–USD daily chart.

Gate Trade LTC Thursday, April 2, 2020 877 0

Litecoin (LTC) is stuck between the 20-day EMA and the support at $35.8582. If the bulls can push the price above the 20-day EMA at $40.69, a retest of $43.67 is possible. A break above this will signal the start of a new uptrend. 

Therefore, the traders can buy on a close (UTC time) above $43.67 and keep a stop loss at $35. The first target objective is a rally to the 50-day SMA at $54.16 — and above it, the up move can extend to $63.8769. 

However, if the price turns down either from the 20-day EMA or $43.67 and plummets below $35.8582, a drop to $30 is likely.